Interest Extra Note

Concept of Interest Extra Note in the context of Real Property

A short definition of Interest Extra Note: A note stating an equal (usually monthly) payment on principal, plus interest. As the interest decreases (based on declining principal balance) the total payment decreases. The amount applied to principal remains the same. See also: Interest Included Note.

Concept of Interest Extra Note in the context of Real Property

A short definition of Interest Extra Note: A note stating an equal (usually monthly) payment on principal, plus interest. As the interest decreases (based on declining principal balance) the total payment decreases. The amount applied to principal remains the same. See also: Interest Included Note.